What all steps do I need to take to sell my own home? Can you please give me detailed explanations. Thanks?
Chris asked:
I have had no luck selling with agents and their fees are very high. Please help!
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I have had no luck selling with agents and their fees are very high. Please help!
February 1st, 2009 at 11:52 am
Office Depot or Home Depot sells the kits with all the paperwork that you need in it. Very easy!
Declutter your home and clean, clean, and more cleaning.
A clean house sells quick.
Be cautious on how you price it.
Ask 3 realtors to come by and do a cost analyst its free.
If you research the interenet like I did for the appropriate paperwork needed in your state, you do not need a realtor, also all those things he mentioned, mls listing, lock box, sign, of course you are paying for it, thats why they charge so much.
Listen nothing is for free especially when it comes to real estate.
If you get rid of the junk in your house and keep it clean and price it right, you dont need a realtor.
In my opinion they are only for convenience not a necessity.
February 3rd, 2009 at 12:56 pm
Hi I am an agent of 20 years in the business and there are a lot of steps but I’ll type up a little mini outline for you.
In some states like California for example you are not required to have both and attorney and r.e. agent. Just an agent is needed and so the costs are less.
In other states you have to get an attorney also and that is where the expenses get a bit higher.
So the steps to sell your home are as follows.
Step 1. The first step is to find out the TRUE value of the home. Not what the buyer would want to buy it at and not what you would want to sell it at. You wan’t to find what people are actually paying in your neighborhood.
You can find out free by going to the site below, then click PROPERTY RESEARCH and it will show you online instantly what your house is worth. I was impressed how accurate it was, within $1000-$3000 every time.
Step 2. Once you know the value of your home you want to pick a good agent. You won’t want to go f.s.b.o. because buyers automatically take 6% off the price anyways when they see a f.s.b.o. However about 1 year ago even a f.s.b.o. seller could get a good price but now you need someone working on it 24/7 so you must absolutely have an agent.
Step 3. Rule #1 with agents is get the agent that SPECIALIZES in your area. If you have had an agent that goes door to door in your neighborhood these are the best agents. They’ll get you top dollar.
The agent will protect you legally. There are tons of legal disclosure statements you have to fill out and if you sell your house without having those filled out properly you can find yourself in hot water and lose all your equity so it’s not worth the legal risk. An agent not only knows how to fill out the forms but has all the forms. Those forms are hard to find you can’t even find them on the Internet.
That might not seem like a big deal but the proper legal forms are crucial.
Step 4. Once you have an agent they will list your home in the MLS system which puts your house on the Internet worldwide. Your agent will not charge you for this but he or she has to pay a fee to be a member of it so you save money there by not having to pay the fee.
Your agent will pay for putting the sign in the yard so you don’t have to pay for the guy to do that.
Your agent has a special lock box (they cost over $100) that’s approved by the mls that they can put on your house so its secure and safe to show it.
This special lock box knows which agent showed it and when! It’s very secure.
Your agent will go to the buyers house, pick them up and drive them to the property. They will bring the buyer to a buying decision.
Once the buyer buys the house your agent will help the buyer get approved. Usually 12-15 trips or contacts to the buyers home.
Once the loan is in process your agent will meet the appraiser at your house because if the appraisal doesn’t come in at what you sold it at, the deal is dead in the water. Let your agent meet the appraiser there and they will give the appraiser a list of comparable sales in the area that prove buyers are paying that amount for homes like yours.
The appraisal as you can see is very very important.
Most buyers do not pay all cash but get financing. So in reality the BANK IS BUYING YOUR HOUSE. They are the ones that send the appraiser so they want to make sure they are protected if the buyer defaults on payment.
They will closely look at what houses have sold in your area, and now a days, and I kid you not, they will look at the homes that are for sale too.
So you need to know all the homes that are for sale too.
I strongly suggest go to the site below click PROPERTY RESEARCH and start on step 1 and see what appraisers are going to see. This site will show you (free too) what your house is comparable to and what appraisals are coming in at.
Also there are free reports you can download and study.
Lastly my email is there on the site if you have any ?’s